California Housing Finance Agency
California

The CalHFA Mixed-Income Program (MIP) provides long-term subordinate financing for the new construction of affordable multifamily developments throughout California that provide housing with units restricted at all income levels between 30% and 120% of the Area Median Income of the county in which the development will be located. The program was created with an annual appropriation of funds to CalHFA under 2017's Senate Bill 2 (SB2), the Building Homes and Jobs Act. CalHFA receives 15% of the Building Homes and Jobs Act Fund for MIP. CalHFA expects to have a total of $50 million available for MIP subordinate financing in 2023.

Funding Source
Dedicated funding stream - Other
Program Status
Active
Website
https://www.calhfa.ca.gov/multifamily/mixedincome/index.htm
Contact
Kate Ferguson Multifamily Programs Division, California Housing Finance Agency [email protected] 916-326-8802
How Provided?
Development loans
Program Type
Capital resources
Income Eligibility Threshold
Other income eligibility criteria
Duration
Affordability period is 55 years
Info Source
NLIHC internet research
Last Updated
7/25/23 11:23
Other Eligibility Requirements

No other eligibility requirements